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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (April 18, 1958)
53rd Year Medfoe Price 10 Cents Tribune 2nd SECTION MEDFORD, OREGON, FRIDAY7 APRIL 18, 1958 Pages 1-8 Stock Speculation N Business for Market Editor's note: Sidney B. Lurie, research partner for the stock ex change firm of Josephthal & Co., has written the following dispatch for Elmer C. Walzer's "Financial Gossip" column while Walzer is on vacation. .By SIDNEY B. LURIE Partner. Josephthal & Co. Written for United Press New York HP) This is a good time to state a few basic realities from time-honored speculative axioms. Why? We've been through and are likely to remain in a frustrating period for those who think and act only in terms of the market as a whole. Secondly, it's almost always futile to look for a simple an swer to a complex problem Two-and-two do not always make four. There never have been nor will there ever be Univacs in Wall Street It's fashionable to be pessi mistic. But speculation is not a simple business. If it were easy to get fat financially there wouldn't be enough re ducing salons to accommodate everyone. Furthermore, there seldom is any charm in the obvious. It's always wiser to be wary of any unanimously-held opin ion. Four Considerations In turn, this basic philoso phy points up four considera tions: No question about it, first quarter earnings reports will be poor. But that could easily prove to be an anti-climax marketwise. This because Wall Street has been holding a wake before the corpse ar rived. No one can argue that the market as measured by the popular averages is "dear" rather than "cheap." But there is no rule that says that stocks "must" decline merely because slide-rule comparisons suggest that they are vulner able. We could easily remain in a pattern where the market is like the clown on a tight rope who threatens to fall and hurt himself, but doesn't. Sure, the recession has not ended on schedule. -Its-flattening out, but not turning around, aggressively. Moreov er, any improvement would be within the framework of the broad trend which points to no more than a series of short lived cycles but not a new boom. Jt probably would take widespread dis couragement, however, or an actual need for cash to topple over the applecart. In this connection, people have mon ey and middle class Ameri ca is far more relaxed than Wall Street. There is little likelihood of either a new business boom or a new bull market in 1958. These are the in - between years. But this isn't the issue today and it takes a sur prise to make a new price trend. In a Word In a word, the $64,000 ques tion is quite simple: Is the roof likely to fall in and pre vent individual success stories from capturing special atten tion as they have in the past? Will the security buying public become discouraged by this neuter gender economy by Washington's failure to rec ognize the economic facts of life? Viewed objectively, the jury still out but the die will be cast within the next two weeks. The background for a comparatively explosive movement has been created and there is reason to be cau tiously hopeful. The threat of an important decline can go by default, for ot Simple Investors there is an amateur short-interest which will become restive. No Dating, Lipstick For Oxford Students Oxford, Miss. rtPl The local Parent-Teacher associa tion has spoken: no dating, no lipstick and no formal dances for students at Oxford Ele mentary school. A code of conduct to this ef fect was adopted by'thePTA Wednesday. For good meas ure, there is a section forbid ding any activities "which emphasize pairing - off" of boys and girls. Censorship Said in Alarming Degree Washington IP) Rep. John E. Moss (D-Calif.), chairman of the House government in formation subcommittee, told newspaper editors Thursday that censorship of Defense De partment information "has reached an alarming degree." He charged President Ei senhower, with a "dangerous" move to impose even tighter controls over the flow of de fense information . "to the public and the Congress." Moss made the statements in a speech prepared for de livery at the opening session of the annual convention of the American .Society of Newspaper Editors. Quotes From the News By UNITED PRESS Chicago Evangelist Billy Graham, when asked if he would say San Francisco is the sinningest city: "No. I wouldn't. All the cities have got sin. One minister wrote me. however, that San Francisco was a city that had lost its soul' . Hollywood Band leader Bob Crosby, after the Internal Revenue, service filed a $40,772 tax lien against his $100,000 Honolulu home: "I guess you can call by island home a Hawaiian lien-to." New York Edward J. Haggerty, on being pulled down from his perch among the girders of Manhattan bridge high above the East river. and asked why he did it: "Because it's my job, dammit. I'm an inspector in the department of public works . and I have to look over the 1 steel work every Thursday," Sheriff Aspirant Gives Plan For Area Ambulance Ralph A. Larson, 37, Eagle Point, a candidate for the Re publican nomination for sher iff, today said if he is nomi nated and elected, he would work out a cooperative emer gency aid plan which would assure emergency ambulance service throughout the county. Pointing out there is only one ambulance service in the county now, and that it has been having difficulty meet ing expenses, largely through uncollectable bills for service rendered indigent patients, Larson said that good govern ment should insure the avail ability of ambulance service. He said he would work to provide it through existing services, and in cooperation with the state police, and co operating cities, under an emergency aid plan which would not place an excessive burden on either ambulance companies or the taxpayers. Larson, in announcing his plans for such an emergency service, also stated there is a need for a sheriff's reserve of trained, uniformed volunteer deputies, further training for the posse, more resident depu ties in outlying parts of the state, and modern practices and theories in all phases of the operation of the sheriff's department. He suggested cooperation with civil defense, particular ly in the maintenance of ra dio communications during emergency periods. Larson received his police training as a deputy sheriff in Los Angeles county for 10 years. Benny Turns in Usual Top TV Performance in 'Shower of Stars' Show William Ewald By WILLIAM EWALD United Press Correspondent New York (IP) Jack Benny, after copping two "Emmy" awards this week, said something like: "Now, wouldn't it be funny if my next show was lousy?" Well, Thurs day night Benny turned up on CBS TV's "Shower of Stars" with a on e-h our comedy-music show and if Benny wants to keep score, I would say he turned in his usual A-plus effort in a pro gram that was about B-minus. Considering that the show was saddled with a rather large handicap the last minute withdrawal of Nan Fabray from the cast because of an auto accident it was astonishing that the show came off as medium-well as it did at all. Janis Paige Called In Janis Paige stepped into Miss Fabray's role with one day's rehearsal and turned in a pro's job, but the truth is, her numbers like all of the numbers on the show were uninspired in their concep tion. Miss Paige son g-dueled John Raitt in front of a piano with "There Once Was a Man" and Miss Paige sang a mildly amusing "Mr. Wonderful" to Benny while they were seat ed just below the piano on a flight of steps. ' Betty Grable did one of those Caribbean-s t r a w-hat-fetch-me-a-fan-boy type songs that looked like a million old movies. And in a later number, Miss Grable and Miss Paige worked together in another dullie. But the show did have Ben ny. And, of course, Benny is an obelisk of strength on any show. Together with Barbara Nichols, Benny carved out most of the entertainment on the show. Miss Nichols, one of the most underrated of our "dumb blonde" comediennes, provided " fine bounce for Benny. She has a kind of cheerful ill-breeding about her, a comic sexiness, a big girl with a little girl's mind sort of uncomprehension, that snaps against- Benny's dead pan suavity with brisk vul garity. "Would you like to dance?" says Benny as he and his Miss Nichols are seated in a plush nightclub. "Okay," replies Miss Nichols with enthusiasm, "Where do you buy the tickets?" I hope that Miss Nichols j comes back for another hitch ! with Benny next season and ! more to the point, I hope that ! next time around Benny hogs j the show a little more. He de-1 served both his ftnmys and we viewers deserve more of him. Naneife Fabray In Auto Accident Hollywood (IP) Comed ienne Nanette Fabray, who is expecting a baby in five months was hospitalized at Cedars of Lebanon hospital Wednesday night after an auto collision. Although her injuries were described as "not serious," her doctor recommended she remain in the hospital for observation. Attendants said her condition was "satisfact ory." Police said Miss Fabray's car was involved in an acci- Rogue Coin Club Schedules Meeting The second meeting of the Rogue Valley Coin club will be held at 8 p.m., April 25 at the Girls club. Officers will be elected and everyone inter ested in coin collecting is in vited to attend, those in charge reported. The group held its first' meeting last Friday with 15 adults and two junior mem bers present. A constitution and by-laws were presented. " dent at a Hollywood intersec tion with another vehicle driven by Peter Vonliotes, 29, Los Angeles. Mrs. Benback Sells Songs To Publishers Two songs written by Mrs. Clara Benback, route 1, Eagle Point, have been published by Nordyke Music Publishing company, Hollywood, Calif., the firm announced today. The songs, "Sing Me a Love Song" and "Heartstring Pup pet," are the first she has had published. BUSINESS IS GOOD! 1 mi niMiliii''' vw'Jp . :Ji "'"JWHJWfc'i 3s? GLENN R. JENNINGS Your Cal-Western Life Agent and to prove it I'M GOING TO SELL !4 MILLION DOLLARS OF INSURANCE IN THE NEXT 30 DAYS! I can help you with your insurance needs. You can help me prove that business is good. Won't you give me a call? 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